AGTK Agritek Holdings Inc (CE)

President and Chief Executive Officer of the Company, effective December 11, 2018. Mr. Friedman also notified the Company on December 10, 2018, he was resigning form the Board of Directors of the Company and of certain subsidiaries of the Company. Mr. Friedman’s resignation from such positions was not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies, practices, procedures or financial statements, including its controls or other financial related matters. The Company has agreed, for purposes of Mr. Friedman’s existing Employment Agreement and position as the Company’s sole Director to treat Mr. Friedman’s resignation in the same manner as if he were terminated without “Cause.”

On December 10, 2018, Suneil Singh Mundie was named to the Board of Directors of the Company. Mr. Mundie has also agreed to be the Interim Chief Executive Officer of the Company, effective on December 11, 2018, after the effectiveness of Mr. Friedman’s resignation. Mr. Mundie, 31, has extensive experience providing advisory services to the Cannabis industry. He has advised both privately and publicly held Canadian and U.S. companies. His focus has been on restructuring and recapitalization. Mr. Mundie has been responsible for raising over $50 million dollars for companies in the Cannabis space. Additionally, Mr. Mundie specializes in providing both retail and institutional financing in the form of both equity and debt as well as advising on IPO and RTO processes. He has forged relationships with many of the industry's key figures during his time in the sector. Mr. Mundie graduated with a Bachelor's degree from the University of British Columbia.

Employment and Board of Directors Agreement

In connection with Mr. Mundie’s appointment as Interim Chief Executive Officer of the Company, on December 12, 2018, the Company entered into an Employment and Board of Directors Agreement (the “Employment Agreement”) with Mr. Mundie, pursuant to which Mr. Mundie will serve as Interim Chief Executive Officer for an initial six- month term. Mr. Mundie’s employment is terminable by him or the Company at any time (for any reason or for no reason) with a ninety-day notice from either party to the other. Pursuant to the Employment Agreement, Mr. Mundie will receive a base salary of $90,000 per annum. In the event that Mr. Mundie’s employment is terminated within three months of commencing employment with the Company and such termination is not due to Mr. Mundie’s voluntary resignation (other than at the request of the Board or the majority shareholders of the Company), Mr. Mundie will be entitled to continued payment of his base salary for the remainder of the Agreement.

There is no family relationship between Mr. Mundie and any director or executive officer of the Company or any person nominated or chosen to become a director or executive officer of the Company. Mr. Mundie has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.